Franklin Resources Inc. Decreases Stake in Arm Holdings plc (NASDAQ:ARM)

Franklin Resources Inc. cut its stake in shares of Arm Holdings plc (NASDAQ:ARM) by 27.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 926,639 shares of the company’s stock after selling 354,845 shares during the quarter. Franklin Resources Inc.’s holdings in ARM were worth $114,310,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in ARM. Tufton Capital Management lifted its stake in ARM by 1.5% during the 4th quarter. Tufton Capital Management now owns 4,425 shares of the company’s stock valued at $546,000 after acquiring an additional 65 shares during the period. Valley National Advisers Inc. lifted its position in ARM by 13.3% during the fourth quarter. Valley National Advisers Inc. now owns 613 shares of the company’s stock valued at $75,000 after purchasing an additional 72 shares during the period. Zullo Investment Group Inc. boosted its holdings in ARM by 4.6% in the fourth quarter. Zullo Investment Group Inc. now owns 1,915 shares of the company’s stock valued at $236,000 after purchasing an additional 85 shares during the last quarter. Cibc World Markets Corp grew its position in ARM by 3.5% during the 4th quarter. Cibc World Markets Corp now owns 2,838 shares of the company’s stock worth $350,000 after purchasing an additional 96 shares during the period. Finally, Gladstone Institutional Advisory LLC raised its stake in shares of ARM by 3.0% during the 4th quarter. Gladstone Institutional Advisory LLC now owns 3,319 shares of the company’s stock valued at $409,000 after buying an additional 98 shares during the last quarter. 7.53% of the stock is owned by institutional investors and hedge funds.

ARM Stock Up 1.1 %

Shares of ARM opened at $108.14 on Thursday. The stock has a fifty day simple moving average of $136.76 and a two-hundred day simple moving average of $139.93. The company has a market capitalization of $113.31 billion, a PE ratio of 142.29, a price-to-earnings-growth ratio of 6.33 and a beta of 4.77. Arm Holdings plc has a 52-week low of $85.61 and a 52-week high of $188.75.

Analysts Set New Price Targets

A number of brokerages have recently commented on ARM. Benchmark restated a “hold” rating on shares of ARM in a research note on Thursday, February 6th. Mizuho raised their price objective on shares of ARM from $160.00 to $180.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Susquehanna boosted their target price on shares of ARM from $118.00 to $140.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Citigroup lifted their price objective on shares of ARM from $170.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Finally, The Goldman Sachs Group increased their target price on shares of ARM from $159.00 to $174.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, ARM presently has a consensus rating of “Moderate Buy” and an average price target of $163.41.

About ARM

Arm Holdings Plc engages in the licensing, marketing, research, and development of microprocessors, systems IP, graphics processing units, physical IP and associated systems IP, software, and tools. It operates through the following geographical segments: United Kingdom, United States, and Other Countries.